Clarus (NASDAQ:CLAR) upgraded to Strong-Buy by Zacks Investment Research
Clarus (NASDAQ:CLAR – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note released Friday to investors, Zacks.com reports. The company currently has a target price of $26.00 on the stock. Zacks Investment Research’s price target indicates a potential upside of 12.36% from the current stock price.
According to Zacks, “Clarus Corporation engages in the design, manufacture and marketing of outdoor equipment and apparel for climbing, mountaineering, hiking, skiing and other outdoor recreational activities. air. Its brands include Black Diamond and PIEPS. Black Diamond Equipment is a manufacturer of active outdoor equipment and apparel for the climbing, skiing and mountain sports markets. PIEPS is a designer and marketer of avalanche beacons and snow safety products. Clarus Corporation, formerly known as Black Diamond Inc., is headquartered in Salt Lake City, UT.”
A number of other equity research analysts have also weighed in on the company recently. BNP Paribas upgraded Clarus from a “neutral” rating to an “outperforming” rating and set a price target of $33.00 for the company in a Wednesday, December 15 research note. Bank of America began covering Clarus shares in a Tuesday, Dec. 21 report. They issued a “buy” rating and a price target of $35.00 on the stock. DA Davidson raised his price target on Clarus shares from $38.50 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James lowered his target price on Clarus shares from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday. Six analysts gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, Clarus currently has an average rating of “Buy” and a consensus target price of $31.86.
Clarus stock traded at $0.33 during Friday’s midday session, hitting $23.14. The company’s stock had a trading volume of 271,498 shares, compared to an average volume of 207,308. The company has a 50-day moving average of $23.14 and a 200-day moving average of $25.89. The company has a debt ratio of 0.36, a quick ratio of 1.36 and a current ratio of 3.11. The stock has a market capitalization of $855.90 million, a PE ratio of 32.14 and a beta of 0.95. Clarus has a one-year low of $15.43 and a one-year high of $32.36.
Clarus (NASDAQ:CLAR – Get Rating) last released its quarterly earnings data on Monday, March 7. The company reported EPS of $0.45 for the quarter, beating the consensus estimate of $0.31 by $0.14. Clarus had a return on equity of 16.43% and a net margin of 6.94%. In the same quarter a year earlier, the company posted EPS of $0.31. On average, equity research analysts expect Clarus to post an EPS of 1.43 for the current fiscal year.
Separately, director Donald House sold 10,000 shares of the company in a trade on Thursday, December 16. The shares were sold at an average price of $27.65, for a total transaction of $276,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Insiders of the company hold 26.30% of the shares of the company.
A number of hedge funds and other institutional investors have recently bought and sold shares of CLAR. Barclays PLC increased its position in Clarus shares by 165.8% during the fourth quarter. Barclays PLC now owns 32,115 shares in the company valued at $891,000 after purchasing an additional 20,031 shares during the period. BlackRock Inc. increased its position in Clarus by 13.7% in the 4th quarter. BlackRock Inc. now owns 1,607,358 shares of the company valued at $44,557,000 after purchasing an additional 193,267 shares during the period. Wells Fargo & Company MN increased its stake in Clarus to 96.9% during the 4th quarter. Wells Fargo & Company MN now owns 19,063 shares of the company worth $528,000 after buying 9,383 additional shares last quarter. Deutsche Bank AG increased its stake in Clarus shares by 14.5% during the fourth quarter. Deutsche Bank AG now owns 17,120 shares of the company worth $475,000 after buying 2,174 more shares last quarter. Finally, the California State Teachers Retirement System increased its stake in Clarus by 153.1% in the fourth quarter. California State Teachers Retirement System now owns 33,036 shares of the company valued at $916,000 after purchasing an additional 19,983 shares in the last quarter. 60.95% of the shares are held by hedge funds and other institutional investors.
Clarus Company Profile (Get a rating)
Claris Corp. engages in the development, manufacture and distribution of outdoor equipment and lifestyle products focused on the climbing, skiing, mountain and sports categories. It operates through the Black Diamond and Sierra segment. The Black Diamond segment designs, manufactures and markets outdoor equipment and apparel for climbing, mountaineering, hiking, skiing and a range of other year-round outdoor recreation activities .
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